Technical analyst Dan Fitzpatrick says that many mainstream investors aren’t paying much attention to gold and silver, thinking “that’s so last year. But those are the trades we really want. You look at gold, you look at silver, they’ve actually consolidated really nicely in a healthy way. They haven’t broken down, it’s not a top, it’s just some really great price action to get these stocks and metals down to levels where investors are starting to buy them again. And the uptrend still remains. You look at any chart and you can see that.”

And according to Sprott’s John Embry, “the smart money has been buying gold all along…. I don’t think the general public gets in, until gold clears $2,000 and maybe even higher. At some point people will be forced to talk about it.” As for silver, he thinks that “Once it starts to really gain a head of steam, the very lack of positive sentiment could change quite abruptly,” and that silver has been hurt by “the fact that the Dow goes up day after day. The bulk of the public is focused on what the mainstream is promoting and it’s doing well, I think it detracts from gold and silver, which is where investors should be.”